In this solo‑host YouTube video, the presenter explains the rapid rise of the Bitcoin MYK‑backed dollar (BBD) on Hive Engine, detailing the underlying Bitcoin MYK token and its unique economic design. The Bitcoin MYK token is a deflationary social‑network cryptocurrency built on a Bitcoin fork that distributes unclaimed tokens as universal basic income (UBI) and reduces supply in response to network activity, mirroring Bitcoin’s halving but in reverse. The BBD is presented as a stablecoin‑like asset that can be redeemed at any time for the native MYK token, offering stability derived from the growing user base of the social network rather than fiat backing. The speaker critiques fiat‑backed stablecoins, arguing that social‑network user value (citing valuations of Facebook, Google, Amazon accounts) provides a more reliable foundation. He highlights the token’s multi‑chain presence (Bitcoin Cash, Hive, Steem, upcoming Ripple/XRP), its deflationary nature, and practical uses such as promotion, advertising, micro‑blogging, and earning through the UBI program. Performance data shows a 44% price increase within roughly two months of launch. The video concludes with a call to subscribe for deeper coverage of the project.
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Welcome back to the channel. I hope you're having a great day. So today we're going to talk about the Bitcoin MYK Back Dollar rising to the top of Steam Engine. I'm sorry, Hive Engine, right? Get them mixed up sometimes. Um, the thing about the Bitcoin MYK Back Dollar is, um, it is a very unique cryptocurrency and it's one that As I'm starting to see it pick up, um, pick up trade volume, people are purchasing it. Some people are purchasing it off, uh, basically outside the exchange, you know, um, um, and, um, what we're noticing is that the Bitcoin NYK/BAT dollar is starting to gain, uh, some traction and people are starting to take notice of it and We're not surprised by that because it's, it's a very unique concept with the Bitcoin NYK BAT dollar, but one that makes a lot of sense if you think about it. And what a Bitcoin NYK BAT dollar is, it is based on the native token, the Bitcoin MYK token, and that is basically a social network, um, essentially that is based on a Bitcoin fork that facilitates universal basic income, right? But it also is deflationary. Uh, so it kind of in a reverse way does what the Bitcoin halving does. Like every 4 years, the Bitcoin halving, it basically reduces the supply, uh, the, the, uh, rewards, right? With the BitcoinMYK token, what's essentially happening is the amount of transactions and the growth of the network is triggering at certain intervals, it's triggering the reduction of the supply of the actual cryptocurrency, right? So it's similar to what's happening to Bitcoin, but in reverse. And because it's a fork, Bitcoin holders get it free. Uh, the tokens that aren't claimed go to Universal Basic Income because of its similarities to Bitcoin. Hence the term, the name of the token, Bitcoin MYK. The MYK stands for Making Your Crypto With Knowledge, right? A lot of people think it stands for my name, but it doesn't. It doesn't stand for, for Miko's. It stands for Making Your Crypto With Knowledge, MYK. Now that you kind of understand that, obviously a Bitcoin NYK-backed dollar is this cryptocurrency you buy, and it is redeemable for this token I just described, this native social media token. Now here's the thing, um, this is what's, um, what makes this so much sense, we think. In a, in a, what you can essentially refer to as a stablecoin, right? Or a backed dollar. Um, and that is generally how a stablecoin works, is that the stablecoin is taken and it is basically backed by some fiat currency. It could be the US dollar. Now what's wrong with that picture? It is backed by a fiat currency that, um, is, uh, generally, uh, controlled by some municipality, right, or government. And that is through some type of forced taxation system, or it is through some type of, uh, government decree, which means that Certain things could go into play with that fiat currency that may or may not be stable. None of them are really stable, but they're more stable in relation to other currencies, right? So the US dollar may be a little bit more stable than the, uh, the yuan or the yen or so on and so forth. With a Bitcoin NYK-backed dollar, The stability of this native token is growing social network because of the universal basic income, because of the Bitcoin fork that's attracting more and more people coming in every day, because of the nature of it, right? That creates some stability in the native token. Now, the Bitcoin NYK-backed dollar, right, when you, when you purchase one of these Bitcoin NYK-backed dollars, you have the right to redeem it at any time for that amount of that BitcoinMYK native token. So it's going to always be redeemable for that, right? Since it began not quite 2 months ago, it's up over 44%, right? Um, that's quite interesting. So it's moved kind of well. But to get back to understanding the BitcoinMYK back dollar, If you believe that a social, large social networks and every account in that social network adds value to that social network, then you believe that the value of that social network is predicated on the accounts, right? So if you have a million accounts, you have a billion accounts, that social network is valuable as it relates to that growth and that value of that user and him finding faith and belief in that currency that's part of that network, right? Some mainstream social media sites like Facebook, they may value one account at $400. Um, I believe Google values theirs around $400, Amazon around $1,000. And this is all based on the idea that social media is valuable, it is worth something, right? And the accounts are worth something, right? That attention value, that use. Again, if you believe that is the case and that is true, and I believe you would have to, or you would believe social networks are at a value of nothing, then that means as they grow, then that value goes— grows along with it, right? And so to me, this makes so much sense. To us, this makes so much more sense. Than believing in a fiat currency that can be— the rules could change with it, right? Inflation can be changed and so on and so forth. It is all faith-based. But what is more important than a fiat currency? What is more valuable than fiat currency? What is more valuable than gold? What's more valuable than silver? What is more valuable than oil? People. People are the real value, right? And the people that encompass this network, they are the ones that are giving the BitcoinNYK Back Dollar value. Now, a lot of people may ask what attracts people to join in the network, and we kind of touched on it, but the best way to fully get that answer is by subscribing to this channel and taking in all our video content and information about this project. And we believe if you do that, you're going to very quickly begin to see and understand what's going on here on the BitcoinNYK.com site. This is not the network, but this is just one site, BitcoinNYK.com, as the BitcoinNYK token itself is also multi-chain. It can go from more blockchain to blockchain. We're involved in other communities. We should be moving to Ripple XRP, uh, this week. But this is a social network part, and the function of the BitcoinMYK token, um, is that you can promote with it, you can advertise with it, right? It continues to grow every day. You can post to it. It has many of these social media features and functions, uh, you know, like many other, uh, platforms out there. You can do a lot of cool, great, interesting stuff, uh, with this project, right? Um, so just going— doing very, very well, this project. And, uh, as you can see, you can promote your videos. You could do all this with the BitcoinNYK token. Also remember, it is deflationary. It is more deflationary than Bitcoin, as we described in the early part of the video. And the Bitcoin NYK back dollar, you can redeem it for, right? And so fantastic project. Uh, it does run— it is multi-chain, but I think it would be more accurate to say that probably the chain that we do most of the actual technical stuff on would be Bitcoin Cash. We're also on the Hive and Steem blockchain, but you can earn here micro blogging with the site. You could just do so many different things with this project. You know, you definitely would want to subscribe to the channel, get more information on it. There are ways you can get it without paying for it. You know, you can earn it, you get, uh, on through our UBI program, you can post, you can earn BBD, do a whole lot of stuff. But we're gonna, we're gonna stop the video here, uh, because we're gonna have so many, um, so much content about BitcoinMYK and already do on our channel. And so when you subscribe to it, you're gonna get all that information, you're gonna be glad you did. But that's all I want to say in this video. If you you like content like this, don't forget to like, subscribe. And until next time, as always, take care.
